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Office

Peak Professional Plaza

7250 Peak Dr, Las Vegas, NV 89128

Listing Price: $6,750,000

Cap Rate
6.25%
Gross SF
31,124
Rentable SF
31,124
Price/Gross SF
$216.87
Lot Size
2.11 acres
Year Built
1998

Investment Overview

Marcus & Millichap is pleased to present an exciting opportunity to acquire a two-story, 31,124 square foot medical/professional office plaza built in 1998 and situated upon 2.11 acres.

Peak Professional Plaza is located within the exclusive Summerlin Master-Planned Community and the Las Vegas Technology Center, and centrally located within the Northwest Medical District (MDNW) with enviable proximity to MountainView Hospital, Optum, and Southwest Medical as well as several United Healthcare corporate campuses, which creates unique opportunities for the medical community to occupy this professionally managed office plaza. Additionally, convenient access to the US-95 freeway and a variety of shopping and dining amenities provide an excellent environment for patients and employees alike. All restrooms were completely renovated in 2021.

Long-term historical occupancy of an excellent mix of medical and professional tenants. Knit Architecture has occupied since 2016 and has recently received $300k in renovations to their 5,264 square foot space. One medical lease is currently pending. 62% of the existing tenant income has been in place for more than seven years.

Investment Highlights

  • LOCATION: Located Within the Prestigious Summerlin Community and at the Center of the Northwest Medical District, Just Blocks from MountainView Hospital
  • STABILITY: Stabilized Asset with Long-Term Historical Occupancy Reflecting 62% of the Tenant Income In Place For Greater Than Seven Years
  • OPPORTUNITY: Additional Opportunity to Add Value Through Lease-Up of Remaining Suite Featuring 9.2% of the Square Footage
  • RENOVATIONS: Extensive Renovations Recently Completed in Excess of $300k Including Tenant Improvements and Restroom Facilities
  • EFFICIENT: Desirable Exterior Accessibility Provides Ease of Management and Efficiency Due to No Interior Common Area/Load Factor
  • WELL-PRICED: Extremely Low Price Per Square Foot for Summerlin Real Estate
  • DESIRABLE OFFICE ASSET: Medical and Professional Office Building with Striking Architectural Appeal Plus Ample Covered and Uncovered Parking
  • DEMOGRAPHICS: Affluent Demographics and Population Density Exceeding 188,384 Residents in the Three-Mile Radius

Exclusively Listed By

Financing By

Office

Peak Professional Plaza

Listing Price: $6,750,000

Cap Rate
6.25%
Gross SF
31,124
Rentable SF
31,124
Price/Gross SF
$216.87
Lot Size
2.11 acres
Year Built
1998

Investment Highlights

  • LOCATION: Located Within the Prestigious Summerlin Community and at the Center of the Northwest Medical District, Just Blocks from MountainView Hospital
  • STABILITY: Stabilized Asset with Long-Term Historical Occupancy Reflecting 62% of the Tenant Income In Place For Greater Than Seven Years
  • OPPORTUNITY: Additional Opportunity to Add Value Through Lease-Up of Remaining Suite Featuring 9.2% of the Square Footage
  • RENOVATIONS: Extensive Renovations Recently Completed in Excess of $300k Including Tenant Improvements and Restroom Facilities
  • EFFICIENT: Desirable Exterior Accessibility Provides Ease of Management and Efficiency Due to No Interior Common Area/Load Factor
  • WELL-PRICED: Extremely Low Price Per Square Foot for Summerlin Real Estate
  • DESIRABLE OFFICE ASSET: Medical and Professional Office Building with Striking Architectural Appeal Plus Ample Covered and Uncovered Parking
  • DEMOGRAPHICS: Affluent Demographics and Population Density Exceeding 188,384 Residents in the Three-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present an exciting opportunity to acquire a two-story, 31,124 square foot medical/professional office plaza built in 1998 and situated upon 2.11 acres. Peak Professional Plaza is located within the exclusive Summerlin Master-Planned Community and the Las Vegas Technology Center, and centrally located within the Northwest Medical District (MDNW) with enviable proximity to MountainView Hospital, Optum, and Southwest Medical as well as several United Healthcare corporate campuses, which creates unique opportunities for the medical community to occupy this professionally managed office plaza. Additionally, convenient access to the US-95 freeway and a variety of shopping and dining amenities provide an excellent environment for patients and employees alike. All restrooms were completely renovated in 2021. Long-term historical occupancy of an excellent mix of medical and professional tenants. Knit Architecture has occupied since 2016 and has recently received $300k in renovations to their 5,264 square foot space. One medical lease is currently pending. 62% of the existing tenant income has been in place for more than seven years.

Exclusively Listed By

Financing By

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